The convergence of recent advances in nanotechnology with modern biology and medicine has created the new research domain of nanobiotechnology. Application of nano-biotechnology in medicine such as development of new devices and tools, clinical approaches and therapies is termed nanomedicine.

More than 180 Utah companies were founded on University of Utah technologies over the past twenty years, and over 120 are prospering in Utah, including major employers like Myriad Genetics, Cephalon, ARUP, TheraTech (acquired by Watson Laboratories), Sarcos, Idaho Technology and Evans & Sutherland.

This history of success is evidence the University of Utah can successfully commercialize technologies that create new businesses and jobs that strengthen Utah's economy. The objective of USTAR is to bolster Utah's research strengths and significantly increase technology commercialization to create many more high caliber jobs throughout the state.